Tennessee Life Insurance

Life insurance is a contract between an insurer and a policyholder that provides a lump sum payment to the beneficiaries of the policyholder upon their death. Life insurance can help cover funeral costs, debts, mortgages, education expenses and other financial needs of the surviving family members. There are different types of life insurance, such as term life, whole life, universal life and variable life, each with its own advantages and disadvantages.

In this article, we will compare the pros and cons of the top 5 life insurance companies in Tennessee based on market share, annual cost, payouts, benefits and types of life insurance they offer. We will also provide the url of each company's website for more information. Finally, we will summarize our findings and recommend the best policy for customers in Tennessee.

The top 5 life insurance companies in Tennessee are:

- Northwestern Mutual

- Tennessee Farmers Life Insurance Co.

- State Farm

- Lincoln Financial

- New York Life

**Northwestern Mutual**

Northwestern Mutual is the largest life insurance company in Tennessee, with a market share of 8.02%. The company offers term life, whole life and universal life insurance policies. Some of the benefits of choosing Northwestern Mutual are:

- High financial ratings from A.M. Best, Moody's and Standard & Poor's

- Flexible policy options and riders

- Dividend payments to eligible policyholders

- Access to financial advisors and planning tools

Some of the drawbacks of choosing Northwestern Mutual are:

- Higher premiums than some competitors

- No online quotes or applications

- Limited term lengths (10, 20 or 30 years)

The annual cost of a 20-year term life policy with $250,000 coverage for a 30-year-old non-smoker in Tennessee is $173 for males and $153 for females. The url of Northwestern Mutual's website is https://www.northwesternmutual.com/.

**Tennessee Farmers Life Insurance Co.**

Tennessee Farmers Life Insurance Co. is the second largest life insurance company in Tennessee, with a market share of 6.23%. The company offers term life, whole life and universal life insurance policies. Some of the benefits of choosing Tennessee Farmers Life Insurance Co. are:

- Local presence and customer service

- Competitive rates and discounts for Farm Bureau members

- Variety of policy options and riders

- Cash value accumulation and loans

Some of the drawbacks of choosing Tennessee Farmers Life Insurance Co. are:

- Lower financial ratings than some competitors

- No online quotes or applications

- Limited availability (only in Tennessee)

The annual cost of a 20-year term life policy with $250,000 coverage for a 30-year-old non-smoker in Tennessee is $180 for males and $156 for females. The url of Tennessee Farmers Life Insurance Co.'s website is https://www.fbitn.com/.

**State Farm**

State Farm is the third largest life insurance company in Tennessee, with a market share of 5.05%. The company offers term life, whole life and universal life insurance policies. Some of the benefits of choosing State Farm are:

- High financial ratings from A.M. Best, Moody's and Standard & Poor's

- Online quotes and applications

- Wide range of policy options and riders

- Multi-policy discounts and rewards

Some of the drawbacks of choosing State Farm are:

- Higher premiums than some competitors

- No dividend payments to policyholders

- Limited term lengths (10, 20 or 30 years)

The annual cost of a 20-year term life policy with $250,000 coverage for a 30-year-old non-smoker in Tennessee is $276 for males and $240 for females. The url of State Farm's website is https://www.statefarm.com/.

**Lincoln Financial**

Lincoln Financial is the fourth largest life insurance company in Tennessee, with a market share of 4.95%. The company offers term life, whole life, universal life and variable life insurance policies. Some of the benefits of choosing Lincoln Financial are:

- High financial ratings from A.M. Best, Moody's and Standard & Poor's

- Online quotes and applications

- Customizable policy options and riders

- Investment opportunities and tax benefits

Some of the drawbacks of choosing Lincoln Financial are:

- Higher premiums than some competitors

- No dividend payments to policyholders

- Complex policy features and fees

The annual cost of a 20-year term life policy with $250,000 coverage for a 30-year-old non-smoker in Tennessee is $178 for males and $156 for females. The url of Lincoln Financial's website is https://www.lfg.com/.

**New York Life**

New York Life is the fifth largest life insurance company in Tennessee, with a market share of 4.34%. The company offers term life, whole life, universal life and variable life insurance policies. Some of the benefits of choosing New York Life are:

- High financial ratings from A.M. Best, Moody's and Standard & Poor's

- Dividend payments to eligible policyholders

- Flexible policy options and riders

- Access to financial advisors and planning tools

Some of the drawbacks of choosing New York Life are:

- Higher premiums than some competitors

- No online quotes or applications

- Limited term lengths (10, 15 or 20 years)

The annual cost of a 20-year term life policy with $250,000 coverage for a 30-year-old non-smoker in Tennessee is $200 for males and $176 for females. The url of New York Life's website is https://www.newyorklife.com/.

**Summary and Recommendation**

Based on our comparison of the pros and cons of the top 5 life insurance companies in Tennessee, we recommend Northwestern Mutual as the best policy for customers in Tennessee. Northwestern Mutual has the highest market share, financial ratings, policy flexibility and dividend payments among the competitors. The company also offers competitive rates and access to financial advisors and planning tools. Although Northwestern Mutual does not provide online quotes or applications, customers can contact a local agent to get a personalized quote and apply for a policy.

The table below summarizes the key features of the top 5 life insurance companies in Tennessee.

| Company | Market Share | Financial Ratings | Annual Cost ($250K, 20-year term) | Dividends | Online Quotes |

| ------- | ------------ | ----------------- | ---------------------------------- | --------- | ------------- |

| Northwestern Mutual | 8.02% | A++ (A.M. Best), Aaa (Moody's), AA+ (S&P) | $173 (M), $153 (F) | Yes | No |

| Tennessee Farmers Life Insurance Co. | 6.23% | A (A.M. Best), N/A (Moody's), N/A (S&P) | $180 (M), $156 (F) | No | No |

| State Farm | 5.05% | A++ (A.M. Best), Aa1 (Moody's), AA (S&P) | $276 (M), $240 (F) | No | Yes |

| Lincoln Financial | 4.95% | A+ (A.M. Best), A1 (Moody's), AA- (S&P) | $178 (M), $156 (F) | No | Yes |

| New York Life | 4.34% | A++ (A.M. Best), Aaa (Moody's), AA+ (S&P) | $200 (M), $176 (F) | Yes | No |

We hope this article has helped you compare the pros and cons of the top 5 life insurance companies in Tennessee and choose the best policy for your needs.